Press Releases

The global testing, inspection and certification (TIC) market is expected to grow at a CAGR of 6.3% during the forecast period with its market size was valued at USD 241.0 billion in 2020. With growing trend of TIC outsourcing, there is a significant rise in the number of small and mid-scale tic companies globally, especially in APAC region. These companies is expected to bring numerous new opportunities for the TIC ecosystem.  

Retail & consumer goods application segment accounted for a foremost share of TIC market in 2020

On the basis of application, the market is subdivided as automotive, aerospace, IT & telecom, transportation & logistics, sports & entertainment, agriculture & food, chemicals, construction, retail & consumer goods, government & public sector, energy & power, industrial, pharmaceuticals, metal & mining, and others. Of all these applications, the retail & consumer goods application segment accounted for a foremost share of TIC market, owing to wide range of consumer goods manufactured every year in different regions and significant demand of quality and standard testing and inspection of the products on regular basis.

Geography Insight

Geographically, APAC, is the largest and fastest growing testing, inspection & certification market with largest number of small and large product manufacturers residing in the region. Further, administration of several countries in the region are inspiring companies across the globe to make investment in the region. This will further up surge the growth of the China Testing, Inspection & Certification (TIC) market in years to come.

Competitive Insight

Some of the key players operating in the global testing, inspection and certification market are ALS Limited, Applus Plus, Bureau Veritas SA, DNV GL, Element Materials Technology, Eurofins Scientific, Intertek, Lloyd’s Register Group Limited, MISTRAS, SGS Group, TUV NORD Group, TUV SUD Group, TUV Rheinland Group, and UL LLC.

Key Takeaway from the Report:

• Among all the service, certification segment captures largest market share in 2020 and is expected to grow at fastest rate during the forecast period.
• Of all the source type, in-house accounted for the foremost share in the testing, inspection & certification market in 2020.
• Among all the application, the retail & consumer goods application segment accounted for a foremost share of TIC market in 2020.

The Report Offers:

• Historical market estimate for the years 2015–2020 and forecast for the years 2021–2027
• Insight on current market trends, market dynamics, key opportunities and major challenges in the industry
• Market insights by in-depth segmentation with industry dynamics.
• Competitive analysis and benchmarking of the industry leaders and their product offerings
• Profiles of leading players and innovators, their financial overview and product portfolio
• Analysis of key industry trends and recent developments
• Value chain analysis and distribution channel analysis with opportunity assessment
• Market share analysis of major players

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The report provides the market value for the base year 2020 and a yearly forecast till 2027 in terms of revenue (USD Million). The report segments the global testing, inspection and certification market on the basis of service, source type, application, and region.

Global Testing, Inspection and Certification Market Coverage

Service Insight and Forecast 2015 – 2027

• Testing
• Inspection
• Certification

Source Type Insight and Forecast 2015 – 2027

• In-House
• Outsourced

Application Insight and Forecast 2015 – 2027

• Automotive
• Aerospace
• IT & Telecom
• Transportation & Logistics
• Sports & Entertainment
• Agriculture & Food
• Chemicals
• Construction
• Retail & Consumer Goods
• Government & Public Sector
• Energy & Power
• Industrial
• Pharmaceuticals
• Metal & Mining
• Others

Geographical Segmentation

Testing, Inspection and Certification Market by Region

North America

• By Service
• By Source Type
• By Application
• By Country – U.S., Canada, and Mexico

Europe

• By Service
• By Source Type
• By Application
• By Country – Germany, U.K., France, Italy, Spain, and Rest of Europe

Asia-Pacific (APAC)

• By Service
• By Source Type
• By Application
• By Country – China, Japan, India, South Korea, Singapore, and Rest of Asia-Pacific

Rest of the World (RoW)

• By Service
• By Source Type
• By Application
• By Country – Brazil, South Africa, Saudi Arabia, and Other Countries